NEW YORK (TheStreet) -- After a historic bull run in 2013, many investors are already looking at 2014's prospects. TheStreet's Ruben Ramirez talked to Scott Wren, senior equity strategist at Wells Fargo Advisors, who is optimistic heading into next year.

Wren says equities should finish higher by the end of 2014. Stocks seem likely to appreciate by roughly 5% to 7% in the ensuing year. But that doesn't mean the ride will be as smooth as 2013.

Wren said he expects some elevated volatility in the next several months or possibly first several quarters. 

For all of 2013, the market has only had shallow pullbacks, the types of pullbacks that didn't allow for investors to buy the dip. Because of this, many investors have too much cash and too little exposure to equities, he added. 

For that reason, Wren said he is excitedly awaiting for an increase in volatility and a deep pullback so his clients can put some cash to work. 

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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